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U.S. utility terrain vehicles market by Current Trends, Analysis & Forecast to 2026

Mounting demand for advanced off-road vehicles stemming from growing interest of youngsters in vehicle off-roading and leisure activities is likely to drive U.S. Utility Terrain Vehicles market outlook.

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U.S. utility terrain vehicles market by Current Trends, Analysis & Forecast to 2026

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  1. U.S. utility terrain vehicles market by Current Trends, Analysis & Forecast to 2026

  2. KeyInsights U.S. utility terrain vehicles market : • Mounting demand for advanced off-road vehicles stemming from growing interest of youngsters in vehicle off-roading and leisure activities is likely to drive U.S. Utility Terrain Vehicles market outlook. • The 400–800 cc displacement segment is likely to witness impressive growth on account of maximum adoption of vehicles with displacement ranging from 400-800 cc due to advanced control and safety features. Rise in number of off-road desert championships and tournaments across the U.S. will fuel segmental growth over the analysis period. These vehicles comprise a roll cage structure that augments driver safety and reduces chances of injuries and fatalities. Manufacturers are rolling out innovative and advanced vehicles that may further boost the demand for 400 – 800 cc UTVs in the forthcoming years. • Advanced UTVs offer enhanced safety and are gaining widespread popularity for military & defense applications. The U.S. government is making hefty investments to deploy new UTVs and also upgrading the existing ones with new enhanced features. For instance, in 2019, the USMC (U.S. Marine Corps) announced plans to upgrade its UTV fleet. The organization will apparently integrate 250 vehicles with new tires, canopies, floorboards, and other accessories to improve vehicle functionality and safety.

  3. Continued… • In a bid to promote the uptake of UTVs for recreational activities, various UTV companies in Michigan and Minnesota region are organizing off-road competitions and outdoor recreational activities. For instance, in 2017, leading Japanese manufacturer of motorcycles, Yamaha Motor Corp. announced to have conferred around USD 350,000 to 26 recipients for encouraging the use of UTVs in outdoor recreational activities through its (YOAI) Yamaha Outdoor Access Initiative. The initiative is aimed at promoting projects that provide satisfactory and enjoyable experience to UTV riders.

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  5. Major Companies In U.S. utility terrain vehicles market : • Key players contributing towards U.S. UTV market expansion are Polaris, Inc., Ltd., Yamaha Motor Co., BRP, Inc., Hisun Motors, KYMCO, Kawasaki Motors Sports, LLC., Caterpillar Inc., Arctic Cat, Inc. and Deere & Company. These manufacturers are resorting to organic and inorganic growth strategies, such as mergers, acquisitions, collaborations, and new product launches with enhanced features to gain an edge over other market players.

  6. U.S. utility terrain vehicles market : • Majority of the U.S. population indulges in recreational activities, such as adventure sports, trail sports, motorcycle riding, etc., which is augmenting the demand for powersports vehicles. Rise in consciousness pertaining to worsening environmental conditions has prompted manufacturers to develop eco-friendly UTVs, which will induce product acceptance amongst consumers. Introduction of hybrid off-road models offering low emissions and high fuel efficiency will provide lucrative scope for UTV industry expansion. • The U.S. government supports outdoor recreational activities, as well as the travel & tourism industry, creating a positive outlook for the industry. Sports clubs across the U.S. are organizing UTV racing events and offering attractive prizes to winners, which is leading to active increasing in consumer participation. Besides, favorable economic factors, such as increase in disposable income, escalating GDP and rising urban population are the key driving factors from U.S. UTV market growth.

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